Crestmont Capital, LLC. Announces Record Earnings for the First Six Months of 2018
IRVINE, Calif., July 11, 2018 (GLOBE NEWSWIRE) -- Crestmont Capital, LLC. (“Crestmont Capital,” or the “Company”), a leader in small business lending, equipment financing, commercial and asset-based financing announced unaudited funding results for the second quarter of 2018 today.
In the second quarter of 2018, the Company achieved originations of approximately $45 million which represents the highest second-quarter revenue in the Company’s history and an increase of 128.2% over Q2, 2017. First Half (FH) originations of $85 million are 205.5% higher than the same period for 2017 which was the Company’s previous best. 2018 FH revenues are on pace to exceed the Company’s previous highest full-year revenue by 105% with two quarters left in the year to execute. Revenue was achieved through new and repeat clients of the Company’s lending products from small businesses and enterprise clients.
Current pipeline backlog of eligible renewal clientele is approximately $20.4 million. The Company expects to convert all current backlog to revenue in 2018. The existing qualified pipeline of potential new business is approximately $15M.
“We are raising our fiscal 2018 revenue target and remain bullish about delivering a strong top line and bottom line growth. As we continue to generate record revenues we see more evidence that the right clients recognize us in the rapidly growing markets. The team is executing on our business plan and the numbers prove it,” said Crestmont Capital CEO, Gregory Keleshian.
About Crestmont Capital
Crestmont Capital’s portfolio of loan products and advisory services offers small businesses resources well beyond those offered by traditional banks. The financial analysts and consultants who make up the lending divisions of Crestmont Capital have assisted in facilitating the capital requirements for thousands of small businesses across multiple industries nationwide.
For more information about Crestmont Capital, visit www.crestmontcapital.com.
ContactsCrestmont CapitalJames Cooper, (800) 949-0401 email@example.com